Monaco have signed the Porto midfield duo João Moutinho and James Rodríguez for a combined £60m.

According to the Portuguese club's website, Monaco will be paying €45m (£38.5m) for Rodríguez and €25m for Moutinho.

The club said in a statement: "FC Porto thanks the dedication and professionalism of players João Moutinho and James Rodríguez, who represented the colours of our club for three highly successful seasons, helping the club win three national leagues, three Supercups, one Portuguese Cup and one Europa League. To both, FC Porto wishes the best of luck."

The French club said Moutinho, 26, and Colombia's Rodríguez, 21, have signed five-year deals.

Moutinho, who had interested Manchester United and Spurs, has 55 times Portugal caps and joined Porto, who won a third consecutive league title on Sunday, from Sporting Lisbon in July 2010. Rodríguez has won 12 caps for Colombia.

Monaco, who are managed by the former Chelsea manager Claudio Ranieri, are owned by the Russian oligarch Dmitry Rybolovlev, and were promoted to Ligue 1 this season.